Kenseth company has the following securities in its trading

Question

Kenseth Company has the following securities in its trading port­folio of securities on December 31, 2013.

Investments (Trading)	Cost	Fair Value
1,500 shams of Gordon, Inc., Common	$ 73,500	$ 69,000
5,000 shares of Wallace Corp., Common	180.000	175.000
400 shares of Martin, Inc., Preferred	60,000	61.600
	$313.500	$305,600

All of the securities were purchased in 2013.

In 2014, Kenseth completed the following securities transactions.

March 1 Sold the 1,500 shares of Gordon. Inc., Common, 0 $45 less fees of $1,200 April 1 Bought 700 shares of Eamhart Corp.. Common. 0 $75 plus fees of $1,300

Kenseth Company's portfolio of trading securities appeared as follows on December 31, 2014.

Investments (Trading)	Cost	Fair Value
5.000 shares of Wallace Corp.. Common	$180.000	$175,000
700 shares of Earnhart Corp.. Common	53.800	50,400
400 shares of Martin, Inc., Preferred	60,000	58,000
	$293.800	$283,400

Instructions

Prepare the general journal entries for Kenseth Company for

(a)  The 2013 adjusting entry

(b)  The sale of the Gordon stock.

(c)  The purchase of the Barnhart stock

The 2014 adjusting entry for the trading portfolio.